Gómez-Acebo & Pombo is advising Naiz Homes and Azora on the acquisition of the La Térmica development in Málaga

GA_P has advised Naiz Homes and Azora on the acquisition of Nueva Marina Real Estate (NUMA), the company that owns the La Térmica urban development project in Málaga.

The transaction, structured as a joint venture, ranks among the most significant residential land deals of the year in Spain due to the size of the site and its beachfront location.

The site acquired by Naiz Homes and Azora comprises more than 120,000 square metres of developable land and is earmarked for the development of approximately 870 homes, as well as hotel, commercial and community facilities. The acquired company comprises the R3 and R5 residential plots, which together total more than 61,000 square metres of buildable area and will allow for the development of nearly 600 homes overlooking the Mediterranean.

The transaction represents a further boost to the transformation of the site of Endesa’s former thermal power station into a new residential neighbourhood. The project is set to become one of Málaga’s leading property developments, in a city that has, in recent years, cemented its appeal to national and international investors, particularly in the residential sector.

Our team

The GA_P team advising on the transaction was multidisciplinary and included lawyers from the Corporate, Real Estate, M&A, Public Law and Tax practices. The team was made up of Jesús Ibáñez, Carla Sancho-Tello, Patricia Baixauli, Lucía Rosado and Yvanna Lloret, from the Corporate, Real Estate and M&A practices; Josep Ortiz, Ernesto Vidal and Javier de la Torre, from the Public Law practice; and Ángel Vaillo, Emilio de Fuentes and Anita Ostafi, from the Tax practice.

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